Project Management: New Product Development & Implementation Plan

This report provides a comprehensive project management plan for the development of a new canned soup product for a food manufacturer. It outlines the research, development, manufacturing, and marketing stages, employing six key project management techniques: PESTEL analysis for macro-environmental assessment, work breakdown structure (WBS) for task organization, Gantt chart for scheduling, risk analysis for identifying and mitigating potential issues, RACI matrix for role definition, and stakeholder management strategy for effective engagement. The project aims to launch the product within a £2.5 million budget and a 2-month timeframe, emphasizing the importance of these techniques in achieving project goals efficiently and maintaining product quality. Desklib offers this student-contributed assignment as a resource for students.

Running head: PROJECT MANAGEMENT
Project management: New product Development
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1.Introduction...................................................................................................................................2
2.Project context..............................................................................................................................2
3.Rationale for proposed plan and choice of methods.....................................................................3
4. Technique/method 1: PESTEL analysis......................................................................................4
5.Technique/method 2: Work breakdown structure........................................................................6
6.Technique/method 3: Gantt chart.................................................................................................7
7.Technique/method 4: Risk management strategy.........................................................................9
8. Technique/method 5: RACI Matrix...........................................................................................12
9. Technique/method 6: Stakeholder management strategy..........................................................15
10. Conclusion...............................................................................................................................16
References......................................................................................................................................18

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1.Introduction
The paper mainly reflects on the new product development project. The main aim of the
project to involve the project manager within the research, development, manufacturing as well
as marketing of new canned soups for a food manufacturer. The chief executive has generally
asked to prepare a project plan to the senior management team that helps in setting out the
research, development as well as proper production of the product. The most important focus of
this entire report is application as well as discussion of six project management methods as well
as techniques. In this paper, six different tools including PESTEL analysis, Work breakdown
structure, Gantt chart, Risk analysis, RACI matrix as well as stakeholder management strategies
are applied in a logical way for properly demonstrating the scenario and for reflecting how the
different tools and techniques are utilized within the project for successfully achieving the goals
and objectives of the project within the expected time and budget that is assumed during the
initial stage of the project. Moreover, the proposal helps in ensuring that the entire project that is
undertaken by using the different techniques is helpful in delivering the entire project on time
and within budget by maintain the quality of the project.
2.Project context
The project mainly reflects on the new product development. In order to undertake the
project successfully, it is quite necessary to research, develop, manufacture as well as market a
new canned product for one of the major food manufacturer. The chief executive generally asked
to prepare one of the project plan that helps in supporting the development of a new range of
premium soups. It is quite necessary to develop a project plan that must be properly presented to
the senior management team that helps in setting out the research, development as well as

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production of the entire product. It is expected to liaise marketing for the entire research as well
as design procedure of the project. It is found that the company mainly expected to properly
launch the product in time. The budget that is set initially for the project will be around £2.5
million whereas the time that is required for the project is around 2 months. In order to
successfully complete the project, it is quite necessary for the project managers to utilize proper
project management strategies so that the entire project can be completed on time. The research,
development, manufacturer as well as marketing of premium soups product will be undertaken in
four different phases including initiation phase, planning phase, execution phase as well as in the
project closure phase. The project reflects on six different project management techniques as
well as methods including PESTEL analysis, Work breakdown structure as well as Gantt chart.
In addition to this, proper focus is on risks in order to determine the problems and the risk
management strategies that are helpful in resolving the risks and challenges. Moreover, the
RACI matrix as well as the stakeholder management strategy for the project stakeholders is used
for completing the project successfully.
3.Rationale for proposed plan and choice of methods
It is found that proper research, manufacturing, development as well as marketing of new
premium soup is required to be done so that the manufacturer can be able to provide proper food
delivery service to the customers and also can be able to compete with other manufacturer quite
effectively. It is found that development of new product like premium soups helps in attracting
more number of customers which will further be helpful in increasing the sales of the
manufacturer and thus there will be rise in the yearly revenue of the organization.
It is identified that six project management methods or techniques are utilized within the
project. The main reason behind the selection of PESTEL analysis is that it helps the marketers

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to analyze as well as monitor the macro environmental factors that generally create an impact on
an organization. However, Work breakdown structure is mainly utilized in order to organize the
work of the team into number of manageable sections so that the project team can be able to
understand the scope of the project properly. In addition to this, it is identified that Gantt chart is
used as it helps in providing graphical illustration of the schedule that further helps in planning,
coordinating as well as tracking specific tasks within a project. Moreover, the technique of risk
analysis is considered as a procedure that helps in determining and analyzing the potential issues
and challenges that could negatively create impact on the business key initiatives or critical
projects for helping the organization for avoiding the risks and challenges. On the other hand,
RACI matrix is considered as one of the simplest as well as most effective way of defining as
well as documenting the roles of the project team members. Furthermore, stakeholder
management strategy is considered as one of the procedure that helps in effectively engaging the
stakeholders within the entire lifecycle of the project.
4. Technique/method 1: PESTEL analysis
PESTEL analysis is one of the framework or tool that is utilized by the marketers in order
to analyze as well as monitor the macro-environmental factors that generally create impact on the
organization. PESTEL analysis mainly monitors the political, economic, social, technological,
legal as well as environmental factors quite effectively (Song, Sun and Jin 2017). The PESTEL
analysis is mainly utilized in order to analyze the microenvironment for the development of the
new project.
Political: It is found that the manufacturer can be able to develop, market as well as
launch the new product within the market due to proper political stability as well as because of
proper pricing regulations (Pan, Chen and Zhan 2018). In addition to this, the product labelling

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requirements are properly elaborated by the organization and therefore it will be quite easy for
the manufacturer to develop the new product effectively.
Economic: It is found that economic factors generally create significant impact on the
entire processes with which the manufacturer earned profit in the market. The development of
the new product will be beneficial for the organization due to proper interest rate, exchange rates
as well as inflation rate. Furthermore, the development of the new product helps in achieving
economic growth within the organization.
Social: As per the social analysis, it is found that the new product is generally needed
during week days by the bachelors so that they do not need to spend much amount of time in the
preparation of breakfast (Patil 2018). In addition to this, the process of the new product that is
developed by the manufacturer is expensive and therefore it is for the premium clients or
customers.
Technological: It is found that different types of technological innovations are utilized
by the manufacturer in order to develop the premium soups for the customers. It is found that
innovation within the operations of the manufacturing company as well as within the market is
considered to be beneficial.
Legal: It is found that there are number of legal issues that can generally affect the
development of the new product (Mkude and Wimmer 2015). It is found that legal issues related
with product placement as well as promotional content can create number of challenges and
problems.

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Environmental: Environment is considered as one of the important consideration that is
mainly related to marketing. It is found that the development of premium soup by the
manufacturer does not get impacted negatively due to the various environmental factors.
5.Technique/method 2: Work breakdown structure
Work breakdown is considered as one of the key deliverable that assists in organizing the
entire work of the team into number of manageable actions. It is found that with the help of
WBS, the entire scope of the project is defined into number of manageable chunks so that project
team can be able to understand the objectives of the project properly (Sharon and Dori 2017). In
addition to this, Work breakdown structure is considered as an outline or map of the entire
project so that the goals and objectives of the project can be achieved successfully. A WBS
generally initiates with the project as the top deliverables which is further decomposed into sub-
deliverable using proper outline hierarchy (Kolic et al. 2018). In addition to this, it is found that
a project team helps in determining the major functional deliverables that further subdivides the
deliverables of the project into smaller sub deliverable. The WBS that is used for developing the
new product is generally provided below:

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Researching, marketing,
development as well as
launching of new product
Initiation phase
Business case
development
Feasiability analysis
Project charter
estabilishment
Team members
appointment
Milestone 1:
Completion of
initiation phase
Planning phase
Project plan
Resource plan
Finacial plan
Quality plan
Risk management
plan
Identyfying target
audience
Estabilishment of
mission staatement
Researching the
brands
Milestone 2:
Completion of
planning phase
Execution phase
Researching and
marketing
Researching about
the needs of
customers
Outlining key
qualities and
benefits that is
offerred
Online survey
Development
Hiring of team for
preparing soups
Packing
Distribution
Launching
Targeting social
media
Using pre-launch
videos to drive
customers
Using social media
Milestone
3:Completion of
execution phase
Closure phase
Completion of
development of
product
Stakeholder sign off
Milestone 4:
Completion of
closure phase
Figure 1: WBS
(Source: Created by Author)
The WBS that is developed for the research, development, marketing as well as
launching of the products reflects that the entire work of the project is completed in four phases
that is initiation phase, planning phase, execution phase as well as project closure phase where
the execution phase of the project is divided into three sub-phases including researching,
marketing, development as well as launching (Siami-Irdemoosa, Dindarloo and Sharifzadeh
2015). The main purpose of using the WBS is to reduce the complicated activities to a number of
collection of tasks. This is considered to be significant for the project managers as they can be
able to oversee the tasks much more effectively than the various complex activities.
Moreover, the tasks of the project are independent as well as measurable that have
properly defined project limits. On the other hand, WBS is considered to be significant for
tracking the progress of the project successfully and as the WBS have properly defined limits
therefore the project management can be able to properly identify how the advanced the entire

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project is by checking the tasks that the undertaken project is finished (Sequeira and Lopes
2015). In addition to this, WBS is used for defining the scope of the project properly however the
main challenge that the project manager’s face is to ensure that the entire project is completed as
per the scope for highlighting that the objectives as well as goals of the project are achieved.
6.Technique/method 3: Gantt chart
Gantt charts are considered as one of the horizontal bar that work as a production control
tool that assists in providing proper graphical illustration of the schedule that is further helpful in
planning, coordinating as well as tracking specific tasks within the entire project. Gantt charts
helps in providing proper as well as clear illustration about the project status but one of the main
problem of using Gantt chart is that it does not helps in reflecting on the task dependencies of the
project (Sharon and Dori 2015). Gantt charts are considered as one of the most of easy way to
properly schedule tasks as well as track the entire progress of the project against the deadline that
further assists in reflecting that project planning is one of the important tool that helps in
reflecting the initiation and completion date of the project (Dayani and Gelbard 2015). The Gantt
chart that is provided for the development of new product is generally provided below:

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Figure 2: Gantt chart
(Source: Created by Author)
Furthermore, it is found that one of the biggest advantage of using the Gantt chart is that it
generally acts as of the great visualization as well as prioritization tool that helps in reflecting the
entire overview of the project including the critical information like duration, initiation date,
completion date as well as dependencies of the project. Furthermore, the team members can be
able to get crystal clear communication (Zecheru and Olaru 2016). Gantt chart assists in
providing better communication with the team members in order to improve the relationship with

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the team members. Most importantly it assists in eliminating the requirement of using proper as
well as separate tools in order to track as well as communicate.
The progress of the project can be checked with the help of Gantt chart. The project
progress can be measured properly in order to make the changes in the strategy if the schedule is
lagging behind. As the team members of the project can be able to reflect on the status of the
completed percent with the help of Gantt chart that is considered to be important for determining
if the entire project is in the right direction or not (Evdokimov et al. 2018). Pitch scheduling is
considered as one of the biggest benefit as with the help of Gantt chart the project time can be
managed quite effectively so that the entire project can be completed properly within the
expected budget.
7.Technique/method 4: Risk management strategy
A risk management strategy helps in providing proper structured as well as coherent
approach in order to determine, asses as well as managing the risks of the project quite
effectively. It is identified that the before managing the risks that are identified, it is quite
important to review the risks properly (Kerzner and Kerzner 2017). Assessing risks helps in
reflecting whether the risk that is identified creates positive impact or negative impact. The risks
that are identified while developing the new project can be properly mitigated with the help of
proper risk management strategy. The table that is provided below reflects on the risks, impact,
probability as well as mitigation strategies for the determined risks.
Risks Description Impact Probability Mitigation
Schedule
slippage
If the schedule
of the project is
High High It is quite
necessary to

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not managed
properly then it
will be quite
difficult to
manage the time
of the project
quite effectively.
handle the
schedule of the
project
effectively so
that the entire
project get
finished within
time and the
problem of
schedule
slippage can be
avoided.
Lack of budget If the project
budget that is
estimated for the
project is not
appropriate then
it will be quite
difficult to
manage the
entire project
successfully
within the
High High It is quite
important to
estimate the
budget of the
project properly
for making sure
that the
estimated budget
is appropriate for
completing the
entire project on